Inter Parfums Stock Price Up 3.1% Following Dividend Announcement (IPAR)
Shares of Inter Parfums (NASDAQ:IPAR) rose 3.1% during trading on Tuesday after the company announced a dividend, Analyst Ratings News reports. The stock traded as high as $28.74 and last traded at $28.71, with a volume of 68,380 shares trading hands. The stock had previously closed at $27.84.
The newly announced dividend is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.72%.
A number of analysts have recently weighed in on IPAR shares. Analysts at Zacks downgraded shares of Inter Parfums from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 7th. They now have a $25.50 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Inter Parfums in a research note on Friday, July 25th. They now have a $32.00 price target on the stock, down previously from $36.00. Finally, analysts at B. Riley cut their price target on shares of Inter Parfums from $40.00 to $35.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Inter Parfums has an average rating of “Buy” and a consensus target price of $32.13.
The stock has a 50-day moving average of $27.97 and a 200-day moving average of $31.56. The company has a market cap of $874.3 million and a price-to-earnings ratio of 52.33.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.22 by $0.02. The company had revenue of $118.20 million for the quarter, compared to the consensus estimate of $118.23 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Inter Parfums will post $0.99 earnings per share for the current fiscal year.
Inter Parfums, Inc operates in the fragrance business, and manufactures, markets and distributes an array of fragrances and fragrance related products.
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